EURCHF facing bearish pressure, potential for further downside

Price has just broken below the ascending trendline support-turned-resistance, where it could potentially drop further below 1st resistance, in line with 38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback resistance, towards 1st support, in line with 78.6% Fibonacci retracement, 50%, 78.% Fibonacci extension and horizontal swing low support. MACD is also holding under the 0 line, indicating bearish pressure in line with our bearish bias.

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